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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Instruments

The following tables summarize the fair value of our derivative instruments (in millions):

 

     March 31,
2015
     December 31,
2014
 
     Balance Sheet
Location
   Fair
Value
     Balance Sheet
Location
   Fair
Value
 

Derivatives designated as hedging instruments

           

Asset Derivatives

           

Interest rate swaps

   Other assets    $         6       Other assets    $         4   

Forward contracts

   Prepaid expenses and other      6       Prepaid expenses and other      1   
     

 

 

       

 

 

 

Total assets

      $ 12          $ 5   
     March 31,
2015
     December 31,
2014
 
     Balance Sheet
Location
   Fair
Value
     Balance Sheet
Location
   Fair
Value
 

Derivatives not designated as hedging instruments

           

Asset Derivatives

           

Forward contracts

   Prepaid expenses and other    $ 3       Prepaid expenses and other    $ 9   

Liability Derivatives

           

Forward contracts

   Accrued expenses    $ 7       Accrued expenses    $ 20   
Derivative Instruments Gain (Loss) Recognized in Income

The following table presents the effect of our derivatives on our consolidated statements of income (in millions):

 

      Derivatives not

designated as hedging

        instruments

   Location of Gain
Recognized

in  Income on Derivative
   Amount of Gain
(Loss) Recognized
in Income on Derivative
 
          Three Months Ended
March 31,
 
          2015     2014  

Foreign forward exchange contracts

   Interest expense, net    $ (28   $ 5